Home sales are plunging, particularly in Ontario, because no one is ever eager to sell below their expectations and/or at a loss. But buyers are in the driver’s seat now, and when the dam breaks we can sit back and watch the fire sales.
Canada’s real estate market opened 2026 in a slump, as national home sales fell 5.8 per cent month-over-month in January, while actual, non-seasonally adjusted transactions were down 16.2 per cent from a year earlier…
“… no one is ever eager to sell below their expectations and/or at a loss.”
In other words, with her mother-in-law finally out of the picture, Karen refuses to believe that nobody will buy her husband’s childhood home for an amount that will cover the mortgage balance on the ex-urban home she insisted on moving to during the Wuhan flu hysteria and buying for at least twice what the place was worth.
Speaking of circling the drain … Canada has a readymade solution to the slow housing market. MAID. That’ll get the boomers to give up their homes, eh? There’s a reservoir full of boomers behind the dam of … breathing.
Good thing you have all those American boomers fleeing the USA to Canada just in time for that.
I’d say good riddance to those ex pat boomers … fleeing the Trump Admin. … but I don’t honestly wish them good anything.
If you believe in demographics you should expect 15 years of soft housing prices. We were heading there, then a pandemic, then massive immigration, now a hangover.
You also have all the municipal politicians acting like they’ll get the same amount in revenue as last year based on the assessment roles, just wait until everyone starts figuring out that they should appeal their assessments based on the drops in value.
If everyone appeals then the assessment rate drops and the MIL rate increases. Your taxes remain the same because the game is rigged. The bigger issue is the drop in commercial real estate and the tax hole it creates for residential tax payers.
Good ‘Onya, Ontario El Bozos.
Keep vote’n Liberal.